Brand24 ekes out net profit in 2021, as SaaS business model slowly proves itself

Brand24 recorded PLN 260,000 of consolidated net profit attributable to shareholders of the parent company in 2021 compared to a loss of PLN 1.35 million a year earlier, the company said in the report.
The operating profit amounted to PLN 0.76 million versus PLN 1.03 million loss a year earlier.

Consolidated sales revenues reached PLN 15.79 million in 2021 compared to PLN 13.37 million a year earlier.

"The positive effects of the reconstruction of the price list also extend to the first months of 2022. The pay rise process for old clients ran very smoothly. Although higher prices are reflected in the increase in the number of net customers, the effect is very favorable on the revenues, CHURN and the company's margin. Obviously, we are talking about churna long-term, because in January and February we can expect increased churn due to the price increase, ”commented President Michał Sadowski.

On a standalone basis, the net profit in 2021 amounted to PLN 0.35 million compared to PLN 1.34 million loss a year earlier.

Brand24 owns a proprietary tool for reputation protection and content monitoring on the Internet. The tool is sold globally in the SaaS model (Software as a Service). Brand24 is used by both large global brands as well as small and medium-sized enterprises that are interested in opinions about themselves on the Internet. The company made its debut on the WSE main market in May 2021, moving from the NewConnect market.

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